(Last Updated on December 10, 2020)
Mass Mutual has just declared a $100 million dollar investment into Bitcoin and a $5 million dollar investment into New York Digital Investment Group “NYDIG” .
Founded in 1851, not only is Mass Mutual one of the oldest American companies, it is also one of the largest life insurance companies managing over 550 billion in assets.
Guys.. A 169 year old company is one of the FIRST to dive into Bitcoin!
Most traditional investors are hung up on assuming only the newest and riskiest “tech fad” companies would be the ones leading the way..
It inspires a lot of investor confidence to see Mass Mutual get on board and we are very happy to have them add more legitimacy to the space.
More support pouring into Bitcoin as a treasury reserve asset for any publicly held company to hedge against fiscal and inflationary uncertainties ahead.
Along with a $5 million equity investment in NYDIG, MassMutual has also purchased $100 million in Bitcoin for its general investment account in a transaction facilitated by NYDIG. The firm’s Bitcoin position is held on NYDIG’s secure, audited, and insured custody platform.
Robert Gutmann, co-founder and CEO of NYDIG, said, “The strategic equity investment of MassMutual underscores NYDIG’s role as the leading provider of Bitcoin solutions to institutions, banks, and private clients. It also accelerates our white-label business segment, which provides bespoke implementations of our core custody, execution, financing, and AML/KYC capabilities to a rapidly expanding group of large financial institutions.” With respect to MassMutual’s purchase of Bitcoin, Gutmann added, “We are proud of this incredible moment in the history of both Bitcoin and the insurance industry. This reflects the expansion of Bitcoin to insurance company general investment accounts, as well as NYDIG’s unique ability to meet the complex needs of the most demanding institutional investors.”– Mass Mutual Press Release
This is a conservative, American insurance company placing a small yet material amount into Bitcoin. They are making a statement for investors and other companies to see around the world. More corporations will want to take some control of their future by hedging against fiat manipulation and corruption.
Corporations are built for one thing = profit.
If you cannot hedge against government manipulation and fiat inflation, how can the company stay profitable and in control?
Bitcoin is a brand new monetary tool allowing individuals ( corporations act as an individual) to have MORE control over their financial future.
Have you seen who Mass Mutual has worked with for many, many years?
The whole gambit of solid, time proven institutional companies such as Northern Trust, JP Morgan, T Rowe Price, etc.
Can you imagine some of the discussions about Bitcoin at manager meetings?
Very inspiring words from Ross Stevens, Chairman at NYDIG and long time founder of Stone Ridge.
“we have been quietly building our portfolio of business arks ahead of the no-yield flood, which is now in the early innings of submerging the world. Bitcoin – asymptotically unprintable sound money with an uncorrelated risk premium – is a cornerstone of our practice. To help NYDIG support the next leg of Bitcoin’s journey, I could not have dreamed of a better company to work with than MassMutual. Their enduring focus on delivering safety, security, and responsible innovation to their policyowners and their families has long inspired all of us at Stone Ridge and NYDIG, and, I believe, now will inspire the broader Bitcoin community.”– Ross Stevens NYDIG Chairman